Crypto
ETH Consolidation Continues Amidst Suggestive On-Chain Metrics
Ethereum (ETH) continues to trade in a tight range of $1,800-$2,000 on Thursday, according to TradingPedia.
The spot price is currently at $1,880, and key on-chain indicators remain subdued. ETH Exchange Netflow has shifted to a mildly positive 14-day moving average, signaling slight selling activity.
Retail wallets have offloaded 160K ETH over the past week, while whale addresses accumulated about 100K ETH.
U.S. market sentiment, as measured by the Coinbase Premium Index, has stayed weak and slipped further to -0.081 in the last two days.
However, U.S. spot ETH exchange-traded funds (ETFs) posted net inflows of $244.9 million last week, highlighting a divergence in behavior between traditional and institutional investors.